If you look at the manufacturing data only, the relative strength of the jobs figures surprised. Another positive development were the upward revisions for August and July. The unemployment rate again dropped, this time to 3.5 percent. What will that mean for the Fed and gold?September Payrolls Slow Down, but Unemployment Rate Drops AnywayThe U.S. created only 136,000 jobs in September, following...Read More
1. It is led by institutions and funds, not private investors. Global quantitative easing created a huge and mobile pool of capital in constant need of a place to call home. As the need for a safe haven became apparent among the stewards of that capital, the demand for gold flourished. The consistent presence of funds and institutions as buyers in this rally, as represented by the growth in...Read More
Not long ago, Bill Gates offered some investment advice. That, in itself, constitutes news, but the content and the reactions make up a more interesting story.Gates told the Financial Times, in essence, that investors who want to do something about climate change should stop making up lists of companies they do not want in their portfolios based on involvement in fossil fuel production or use. The...Read More
Vale expects Chinese demand for iron ore pellets and pellet feed to rise by 50 million tonnes per year with mills in China increasing the usage of pellets in their blast furnaces.It estimates that pellet consumption could increase its proportion of the total raw material mix in blast furnaces from 11% in 2015 to 19% in 2025, according to a presentation that the Brazilian miner showed to investors...Read More
RADA Electronic has had a good year on the chartsRADA Electronic Ind. Ltd. (NASDAQ:RADA) has had a big year on the charts, with shares of the defense specialist rallying from $2.58 at the end of 2018 to trade as high as $5.80 last month. RADA stock closed yesterday at $4.72, putting its year-to-date lead at 83%, and the shares were seemingly finding support near the uptrending 50-day moving averag...Read More
PSTG is ripe for a short squeeze, tooThe shares of Pure Storage Inc (NYSE:PSTG) are up 5.7% to trade at $17.29 this morning -- one of the best stocks on the New York Stock Exchange (NYSE) -- after yet another bullish brokerage note. This time, Goldman Sachs upgraded the flash drive storage specialist to "buy" from "neutral," while boosting its price target to $21 from $18. The analyst in coverage...Read More
Constellation Brands' former CFO, David Klein, has been appointed to Canopy Growth's chair of directors The shares of Canopy Growth Corp (NYSE:CGC) are trading lower following an announcement that former Constellation Brands (STZ) CFO, David Klein, has been appointed to the firm's new chair of the board of directors. The company's interim chair, John Bell, will remain as a director on the board. T...Read More
There are a number of reports circulating about U.S.-China trade talksDow Jones Industrial Average (DJI) futures are pointing to a lower open for stocks, following a number of trade-related headlines overnight. While some reports suggested trade talks have been unproductive so far, others indicated the U.S. and China could strike a deal that would suspend next week's scheduled tariffs. Meanwhile,...Read More
Firstly the USO instrument inception date was 4/10/2006. CL_F Crude Oil put in an all time high at 147.27 in July 2008. USO put in an all time high at 119.17 in July 2008 noted on the monthly chart. The decline from there into the February 2009 lows was in three swings. An a-b-c in red although it was a very steep pullback.The bounce from the 2009 lows is a complex double three combination wi...Read More
Demand for flat steel products in Turkey was weak in September 2019 because of global price falls, market participants have told Fastmarkets.And local producers have now filled their order books until late November, they said on Wednesday October 2.Turkish steel prices increased on May 17 after the import duty into the United States, which had been applied at a rate of 50% in September 2018, was c...Read More
Many believe that negative interest rates willnever arrive to the United States. This can’t possibly happen here. Thediscussions of their theoretical benefits almost remind you of thenot-in-my-backyard mentality. But this is not true – they are already presentin America. Hard to believe it? Hiding in plain sight, let’s take it a stepfurther and look at gold in the negative real i...Read More
By Daniel R. Amerman, CFAAs can be seen in the graph below, there is an almost uncanny similarity between housing prices at the 2006-2007 peak, and current home prices.The biggest difference is that current home prices are substantially higher. Should we be worried about a repeat scenario - and another six year decline in home values?This analysis explores in detail the similarities between 2006...Read More
Dave KranzlerThe Bank for International Settlements (BIS) - the Central Bank of Central Banks - released two reports on "unconventional policy tools" - e.g. QE/money printing and interest rate suppression. It concluded that the extreme Central Bank interference since 2008 has had a negative impact on the way in which financial markets function.While Jerome Powell and his "Gang That Couldn't Sh...Read More
SRSrocco The rate at which black swans are showing up in the world should scare the hell out of people. But, unfortunately, everyone seems to be lost in the highly complex technology of I-phones, computers, social media, and the telly to notice that something is definitely wrong. The current situation reminds me of a famous scene in the Monty Python movie, The Holy Grail, where a guy is ba...Read More
By: Ira EpsteinGold $1,515 a problem for gold. $1,540 level resistance area. Market in a stall..Read More
Lack of alternate investment avenues and fear of more recession has resulted in investors flocking to gold and silver. Even bitcoin and other crypto currencies are selling off. Investors and traders have not choice but to invest in gold and silver. Currency markets are not very volatile. Traders invest in investment instruments which are highly volatile. Gold and silver are highly volatile apart...Read More
Taiwan will defer the imposition of anti-dumping and countervailing duties on five Chinese steel and stainless steel products, the island's customs administration said last week. The decision to delay the tariffs was made after considering the recommendation of Taiwan's International Trade Commission (ITC), the impact on Taiwan's economic interests and the global economic situation, Taiwan's Custo...Read More
The price of steel billet in the Turkish market has remained stable over the past week while the steel mills in the country mostly focused on the markets for finished steel products, sources said on Thursday October 10.Suppliers in the Commonwealth of Independent States (CIS) region continued to offer material to Turkey at $365-370 per tonne cfr, but bids from Turkish customers...Read More
New Gold publishes Q3 production numbers.Rainy River and New Afton are set to reach their full-year guidance.The fourth quarter will come with lower grades at both mines, leading to higher costs.Updated life of mine plans are postponed to Q1 2020.New Gold (NGD) has just published its third-quarter production numbers, providing investors with a chance to look at how the company's two mines are perf...Read More
Turkish domestic prices for rebar and wire rod have gone up over the past week, while the country's lira weakens against the US dollar, sources said on Thursday October 10.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar) domestic, exw Turkey, was TRY2,790-2,800 ($477-478) per tonne on Thursday, up from the TRY2,730-2,780 per tonne of last week.Steel mills in the Izmir region...Read More